India’s National Stock Exchange has filed draft IPO papers with SEBI for a Rs 30,000 crore listing, structured entirely as an Offer for Sale of up to 14.89 crore shares, or nearly 6% of its paid-up equity capital. The filing shows transaction charges made up more than 78% of operational revenue over FY26, FY25 and FY24. It also flags heavy reliance on derivatives activity, particularly options trading volumes, as a key business risk, according to the DRHP.

India’s Finance Minister Nirmala Sitharaman received dividend cheques for FY 2025–26 on July 29 from several state-owned financial institutions, including Rs 12,207 crore from Life Insurance Corporation of India (LIC). She also received Rs 2,853 crore from Union Bank of India and Rs 211 crore from New India Assurance Co. The finance ministry has previously said public sector banks’ stronger profitability was supported by improved asset quality, steady credit expansion and higher income.

The Tamil Nadu government has launched an anti-corruption probe into the state-run liquor retailer TASMAC, with the Directorate of Vigilance and Anti-Corruption (DVAC) carrying out simultaneous searches at 41 locations statewide. Investigators are examining allegations that roughly Rs 3,600 crore may have been siphoned off over the past five years through informal “party fund” collections. The claims involve 4,048 registered retail outlets and remain unconfirmed as the investigation continues. The matter is a state administrative enforcement action and does not involve listed companies, financial infrastructure, or tradable traditional assets.

NTPC reported its first-quarter FY27 results with consolidated net profit of 534亿卢比, up 12% year on year and above the market average estimate of 480亿卢比. Electricity sales volume and revenue each rose about 3% from a year earlier, supported by strong demand during the summer peak. The company added 196 MW of generation capacity during the quarter.

Godfrey Phillips India reported a year-on-year decline in Q1 FY27 results, with consolidated net profit down 44.3% to Rs 189.39 crore. Revenue from operations fell 18.9% to Rs 1,205.5 crore, while EBITDA slid 46.3% to Rs 181.44 crore and the EBITDA margin narrowed to 15.1%. The company also set August 11, 2026 as the record date for determining shareholders eligible for the final dividend for FY 2025-26.

Gold and silver prices fell, with both metals down by nearly 1% as a firmer U.S. dollar and rising geopolitical tensions in the Middle East damped sentiment. The U.S. dollar index moved above 101 amid a fresh round of confrontation between the U.S. and Iran, with Iran reportedly hitting U.S. military installations and the U.S. continuing strikes on Iranian military facilities. COMEX gold slipped 0.48% to $4,030 an ounce and silver fell 0.41% to $57.80 an ounce. In India, MCX gold and silver futures also declined by close to 1% and broke key technical support levels.

On July 20, gold and silver futures on India’s MCX climbed, with the August gold contract reaching an intraday high of Rs 1,41,649 per 10 grams (+0.52%) and September silver rising to Rs 2,20,408 per kg (+1.85%). In global trade, COMEX gold edged down 0.24% while COMEX silver gained 0.88%. Analysts said a softer U.S. dollar helped underpin bullion, though crude oil above $90 a barrel has fueled inflation worries and reinforced expectations of further Federal Reserve rate hikes.

HDFC Bank reported a 5% year-on-year rise in consolidated net profit to ₹19,060 crore for the quarter ended June 2026 (Q1FY27). Excluding a ₹9,130 crore one-time gain booked in Q1FY26, adjusted net profit rose by about 10%. Net interest margin narrowed to a record low of 3.26%, while gross non-performing assets inched up to 1.17%. The results indicate resilient earnings, but pressure on margins and asset quality remains.

India’s retail inflation came in at 4.38% in June, up from 3.93% in May. Silver jewellery prices jumped 133.21% year on year and gold jewellery rose 36.82%, making them major contributors to the overall CPI. Food inflation was mixed, with tomatoes and ginger rising sharply while potatoes and peas fell. The reading remains within the Reserve Bank of India’s 2%–6% tolerance band, even as the RBI has raised its FY27 CPI inflation forecast to 5.1%.